Duty Exemptions, Refunds, and Deferral Programs

Duty Exemptions, Refunds, and Deferral Programs

Certain foreign manufactured products qualify for full or partial duty exemptions upon import into the United States, through various tariff preference programs offered by the United States. Such programs include Chapter 98 of the Harmonized Tariff Schedule of the United States (HTSUS), temporary importation bonds (TIBs), carnets, and the application of free trade agreements (FTAs). Additionally, there are programs such as Duty Drawback which allow for refund of duties under certain circumstances. Finally, there are programs such as Foreign Trade Zones (FTZs) and Bonded Warehouses which allow for the deferral or elimination of duties under varied conditions.

Global Trade Expertise regularly advises clients with regard to what special trade programs may be available and how to comply with applicable requirements, which result in substantial duty savings for importers.